Calculating opportunity cost problem?


Workaholic Felix Alvarez is considering a trip to Florida for his spring vacation. He estimated that his round trip airfare would be $ 275, his car rental $ 175, and his hotel expenses $ 950 for his one week trip. By going on vacation Felix would not be able to work and would therefore not earn his usual $ 1250 per week. Felix spends the same amount on food wherever he is. He always eats in restaurants and his meals cost an average of $ 290 per week. Calculate the "cost" of his vacation and explain why you did or did not include each of the components described above in your calculation.

Enlighten me, please. Thanks.

op costs - what is the next best alternative. well clearly if he didn't go he would not have paid $275 for airfare, $175 for a car, $950 for a hotel, and would not have lost $1250 from work. those are the costs he has to pay economically

meals are not included since he's got to eat regardless of what he does.
$2,653... but you really should do your own homework.

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